XIAOMI(HK:01810) 3 6 Ke·2025-06-06 11:15Core Viewpoint - The trend of increasing smartphone camera sizes is driven by consumer demand for better photography, but it raises concerns about aesthetics and usability [2][4][5] Group 1: Camera Size and Design - The size of smartphone camera modules has significantly increased, with some brands' modules occupying over one-third of the phone's back [2] - Consumers express dissatisfaction with the large camera modules, citing issues such as discomfort when holding the phone [4] - Despite consumer complaints, brands like Vivo, Xiaomi, OPPO, and Huawei are exploring even larger external camera lenses [4][5][7] Group 2: External Lens Market - The introduction of external lenses is seen as a solution to the limitations of built-in long-focus lenses, which have reached a design bottleneck [9][17] - External lenses allow for better optical quality and can utilize glass lenses instead of plastic, improving image quality [11][14] - The global market for smartphone external lenses is projected to grow from $12.5 billion in 2024 to $18.7 billion by 2033, with a compound annual growth rate of 5.5% from 2026 to 2033 [21] Group 3: Consumer Demand and Usage - External lenses have gained popularity, particularly among concert-goers who seek better photography options without carrying professional equipment [30][32] - Vivo's external lens has seen high demand, with production capacity increasing from 100,000 to 300,000 units per month due to shortages [23] - Users appreciate the enhanced experience provided by external lenses, even at lower price points [33] Group 4: Challenges and Limitations - The high cost of external lenses, such as Vivo's priced at 1,299 yuan, limits accessibility for many consumers [34] - The convenience of using smartphones for spontaneous photography may be compromised by the need for additional equipment to use external lenses [35][37] - The challenge remains for manufacturers to effectively communicate the value of external lenses to a broader audience [38]